Germany to Nationalize Gazprom’s German Subsidiary

The German Federal Republic has made a decision to nationalize Gazprom’s subsidiary, former Gazprom Germania, which the Russian concern had earlier refused to participate in. German authorities are nationalizing the holding company Securing Energy for Europe GmbH (SEFE), a former subsidiary of Gazprom created to operate in Germany by the Gazprom Germania group, which was renamed after Russia started its war against Ukraine. The German authorities’ decision was reported by the dpa news agency on Monday, November 14. The decision to nationalize was approved because Germany is “taking measures to ensure the country’s energy needs as it relinquishes its dependence on supplies from Russia.” According to the German Ministry of Economics and Climate Protection (BMWK), ultimate ownership of the holding company had to be established, because without it, contractors are reluctant to cooperate with SEFE. DW